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HOW TO GET READY FOR THE SPRING REAL ESTATE MARKET: YOUR ULTIMATE GUIDE

Spring is typically the busiest season in real estate with many Canadians making moves, whether buying or selling. The warmer weather often brings more buyers, sellers, and overall excitement to the market. If moving is on your mind this spring, it’s essential to get ahead of the competition and we are here to help. Here's your ultimate guide on how to get ready for the spring real estate market.


1. START EARLY – PLAN AHEAD

The key to a successful spring real estate venture is planning. The market tends to get crowded with both listings and buyers, so starting early helps you get ahead. Begin preparing at least 3 to 4 months before the season picks up, as many buyers begin their search in late winter or early spring. This gives you time to assess your needs, budget, and market trends.


For Sellers:

Assess the Market: Start by understanding the current market conditions in your area. Are home prices rising, declining, or stabilizing? What’s the inventory level like? Reach out to discuss the best time to list your property.


Repairs and Upgrades: Spring buyers often seek homes that are well-maintained and move-in ready. Focus on making small repairs and upgrades, such as fixing leaky faucets, painting walls and front doors, or updating outdated light fixtures.


Curb Appeal: First impressions matter! Spring is all about new beginnings, so make sure your home’s exterior looks fresh. Plant some flowers, trim bushes, and power wash or reseal the driveway to give your home a welcoming look.


Staging: Consider staging your home to showcase its best features and highlight optimal usage of various spaces within your home. Staging can help buyers visualize themselves in the space and make your home stand apart from the competition.


For Buyers:

Pre-Approval Process: Spring markets can be very competitive, so having a mortgage pre-approval in hand is critical. This shows sellers you’re putting forward a serious offer. Ask us for a referral to a mortgage professional, if needed.


Research Neighborhoods: Use this time to explore different neighborhoods. Do your homework on the schools, amenities, safety, commuting options, and future development plans in areas you’re considering. We can help with this!


Define Your Needs: Before you start touring homes, make a list of your must-haves, nice-to-haves, and deal-breakers. Knowing what you're looking for helps focus your search to make good use of your time and helps ensure you don’t miss the right one.



2. KNOW THE MARKET TRENDS

The spring real estate market can vary greatly depending on location and economic conditions. This means it's essential to know the trends in your local market and how they might impact your buying or selling experience.


For Sellers:

Pricing Strategically: We’ll work together to set a competitive price that reflects the current market conditions, recent sales of similar properties that have recently sold in your neighborhood, and any other factors such as interest rates and regulatory changes.


Anticipate High Demand: Spring brings a higher number of buyers, so if your home is priced well, it could attract multiple offers. Prepare yourself for this situation by understanding how to negotiate offers effectively.


For Buyers:

Competition Is Fierce: With more buyers entering the market, you’ll likely face competition for desirable properties. Be prepared for bidding wars and have a strategy in place for making your offer stand out (i.e. a larger deposit, flexibility on the closing date, or minimal conditions).


Inventory May Be Limited: While spring offers a surge of listings, the best homes don’t always last long. Keep an eye on new listings and act quickly if you find a home you love.


3. GET YOUR FINANCES IN ORDER

Whether you’re buying or selling, understanding your finances is crucial for a smooth real estate experience.


For Sellers:

Understand Your Equity: Before listing, know how much equity you have in your home. This can help determine your price range for the next home and better allow you to budget for necessary upgrades or repairs.


Prepare for Closing Costs: Selling a home comes with many costs. Make sure you have a clear understanding of all costs such as repairs prior to listing, real estate commissions, and legal fees.


For Buyers:

Review Your Budget: Know what you can afford, not just in terms of the mortgage, but also for ongoing costs like property taxes, home insurance, utilities, maintenance, and condo fees.


Check Your Credit Score: Your credit score plays a significant role in securing the best mortgage rates. Check your score well ahead of time and address any issues that might arise.


Explore Financing Options: Work closely with your mortgage professional to find the best financing options for you factoring in interest rates, mortgage types, your credit score, and more. Finding the best mortgage for you will ensure you’re ready to submit a strong offer.


4. HOW CAN WE HELP

As professional real estate agents, we can make the process of buying or selling a home much smoother. From assessing local market conditions to negotiation and accurate paperwork, we are here to provide valuable insight and guide you through one of the biggest financial decisions of your life.


For Sellers:

Market Your Property: Your home will be expertly marketed to ensure the greatest exposure possible using Multiple Listing Services, countless websites, social media, open houses, and more.


Negotiate on Your Behalf: We will help you evaluate all offers and negotiate terms that are in your best interest.


For Buyers:

Access to Listings: You’ll get access to a custom MLS portal tailored to your needs and wants, which will allow you to see new listings matching your exact search criteria in real time.


Guidance Through Offer Preparation and Bidding Wars: Together, we’ll craft an offer that not only meets your needs but also looks attractive to the seller. And if you encounter competition for a property, we’ll be strategic about how to increase your chances of success.


5. STAY ORGANIZED

The spring market can get hectic, so it’s important to stay organized throughout the process. You might even consider creating checklist for everything from researching properties and getting your pre-approval to exploring insurance coverage and utility costs. This will help ensure that you don’t miss any important steps along the way.


FINAL THOUGHTS

The spring real estate market is competitive, but with the right preparation, you can set yourself up for success. Whether you're buying or selling, planning early, staying on top of market trends, and working with professionals can help you navigate the busy season with confidence. By following these tips, you'll be well on your way to a smooth and successful spring real estate experience.


GET IN TOUCH

As your trusted resource for all things real estate, we would be more than happy to provide you with additional insight on how to best prepare for buying or selling real estate. If you have any questions about the market, please reach out anytime. Want a better real estate experience? Call the Giles Team, we are always happy to help. 


NOT RECEIVING OUR NEWSLETTER?

 

Send us an email so we can add your name and address to our monthly mailout.


We look forward to connecting

DK and Amanda


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How Trade Wars and Tariffs Can Hurt Real Estate – But Lower Interest Rates Can Help

By giles_donna • March 28, 2025
How Trade Wars and Tariffs Can Hurt Real Estate – But Lower Interest Rates Can Help The Canadian real estate market is deeply intertwined with the broader economy, meaning external factors like trade wars and tariffs can significantly impact property values, construction costs, and buyer sentiment. While a trade war often leads to increased material costs and economic uncertainty, the potential silver lining is that the Bank of Canada may continue lowering interest rates to counteract these effects creating an opportunity for homebuyers. The Negative Impact of Trade Wars and Tariffs on Real Estate Rising Construction Costs Trade wars typically result in tariffs on imported goods, including key construction materials such as lumber, steel, aluminum, and electronics. These increased costs are passed down to developers and, ultimately, to buyers. More expensive materials mean higher home prices and potentially fewer new housing developments, exacerbating supply shortages. Economic Uncertainty and Reduced Investment When countries impose tariffs on each other, global supply chains are disrupted, and businesses face uncertainty regarding costs and profitability. This can lead to slowed economic growth, reduced job stability, and hesitation among investors to pour money into real estate projects if they view the economy as unstable. Inflation and Increased Costs of Living Tariffs can contribute to inflation as companies pass on higher costs to consumers. Higher prices on everyday goods can make it more difficult for individuals to save for a down payment or afford mortgage payments, ultimately decreasing homebuyer demand. How Lower Interest Rates Can Offset These Challenges In response to economic uncertainty caused by a trade war, central banks – like the Bank of Canada – often lower interest rates to stimulate the economy. This has several key benefits for homebuyers and the real estate market as a whole: More Affordable Mortgage Rates Lower interest rates mean reduced borrowing costs, making homeownership more accessible. Buyers who were previously on the fence may be incentivized to enter the market, increasing demand for housing. Increased Buying Power With lower interest rates, buyers can afford more expensive homes with the same monthly payment. This allows individuals to purchase in more desirable neighborhoods or upgrade to larger properties without significantly increasing their financial burden. Stimulated Housing Market Activity Lower interest rates not only benefit buyers but also encourage sellers to list their homes, as they anticipate stronger demand. Additionally, real estate investors may find more opportunities to purchase rental properties or buy, renovate, and resell homes due to reduced financing costs. The Takeaway: A Balancing Act While trade wars and tariffs can introduce challenges for the real estate market by driving up costs and creating economic uncertainty, lower interest rates can serve as a crucial counterbalance. For prospective homebuyers, this means staying informed about economic trends and leveraging low mortgage rates to secure favorable home prices before inflationary pressures push costs even higher. GET IN TOUCH As your trusted resource for all things real estate, we would be more than happy to provide you with additional insight on how to best prepare for buying or selling real estate. If you have any questions about the market, please reach out anytime. Want a better real estate experience? Call the Giles Team, we are always happy to help. NOT RECEIVING OUR NEWSLETTER? Send us an email so we can add your name and address to our monthly mailout. We look forward to connecting DK and Amanda
Spring Market - What Is It and When

Spring Market - What Is It and When

December 1, 2024
Spring Market - What Is It and When Given many Canadians have a strong interest in real estate, or at least a general awareness of the goings on in the real estate market, it’s surely no surprise that many have opinions on the topic. One thing that we hear often when chatting about real estate is the idea that spring is the best time to sell. “You gotta wait for spring to get the best price,” they say, followed by “right?” as if they weren’t fully sure of their assertion. We would be doing a disservice to our clients if we said it was that simple. So, what is the spring market, when is it, and is it actually the best time to sell? WHAT IS SPRING MARKET? Spring market is typically characterized by greater volumes of showings and, ultimately, sales when compared to other points in the year. There’s this idea that with improving weather, more buyers will be out shopping for houses. Consequently, when sellers believe more buyers have come out of their supposed winter hibernation, they want to bring their properties to market to coincide with what they believe to be greater demand. And, in a general sense, this is often how things play out. We have loads of market data showing the cyclical and seasonal nature of real estate sales – lots of activity in the spring, typically followed by a summer lull, before another secondary uptick in sales in the fall, and quieter winter months. But, in reality, the spring market isn’t always in spring. SO WHEN IS SPRING MARKET? Roughly speaking, the spring market is the time after the cold winter months and before everyone takes off on summer vacations. That much was probably obvious. However, it tends to be a bit more nuanced than that. For example, if we have a mild winter, the spring market may start sooner. In fact, many Realtors would likely agree that while February technically falls in the winter, it’s often when we start seeing increased demand. In this scenario, that could mean that if you wait for the snow to melt and the flowers to bloom, you’ll have potentially missed a prime opportunity to have your house in front of buyers during a period of peak demand. Conversely, we’ve seen other factors such as rising interest rates or changes to mortgage rules land mid-spring causing buyers to retreat to the sidelines. When this happens, the busiest period for sales may not be in spring at all – the so-called spring market may very well be in summer or fall. WHEN IS THE BEST TIME TO BUY OR SELL? The reality is there’s a lot more than just the weather and the associated seasons that determine opportune times to buy and/or sell. The simplest answer we can give you is that the best time to buy and/or sell is when it makes sense for you and your family. But, if answering this question by looking only at market conditions, the best time to sell is when inventory is low and demand is high – or, if you’re a buyer, your best opportunity would be when the market is soft. This would be characterized by high inventory, low sales, and houses sitting on the market for lengthy periods. Of course, most people need to balance a wide array of factors such as interest rates, changes in regulations, and politics, combined with personal needs. After all, aligning a closing date with the start of the school year could be more important to your family than market factors. Similarly, you may be experiencing a job change, a marriage or divorce, a new baby, retirement, or any number of other personal situations. So, while in an ordinary year that follows typical seasonality, spring may very well yield the best options for buyers and the highest prices for sellers, there’s so much more to consider. When we work together, you’ll be armed with data and real-time insight on how the market is performing. Whether you have flexibility in when you buy and/or sell, or if your timeline is more rigid, we can develop a strategy that meets your needs and balances market factors. Many times – and this is especially true for those upsizing – it’s more about the price differential between a purchase and a sale, so buying and selling in any market could still work very well for you. The most important thing is for us to sit down to come up with a solid game plan. GET IN TOUCH For more insight on how to best prepare for buying and/or selling real estate, or if you have any questions about the market, please reach out anytime. To ensure you’re getting the latest market information for your neighbourhood and the best advice on how to navigate the current market, we are always happy to help. NOT RECEIVING OUR NEWSLETTER? Send us an email so we can add your name and address to our monthly mailout. We look forward to connecting DK and Amanda

Why do we send out our newsletters?

November 1, 2024
Insights for Buyers and Sellers Many Canadians have great interest in real estate, whether it be the general state of the market, what their neighbour’s house sold for, or how current market conditions directly impact their own real estate plans. Some might even go so far as to suggest talking about real estate in Canada has become a national pastime. But, as real estate professionals, it’s incredibly frustrating how much misinformation is out there, how many people get drawn into the sensationalism of news headlines, and how general data and generic statements shape the opinions of so many Canadians. Just look at the comments section on any online news article or social media post about real estate – the level of misinformation is typically off the charts! To ensure the people in our inner circle and those in our neighbourhood are better informed, We have created this newsletter featuring much more detailed information specific to our local community, so you don’t have to rely on general sales data for the country, province, or even the GTA. And you’re not just getting the basics such as average sale price and days on the market. We are showing you everything from pricing and how it has changed month-over-month and year-over-year to new listings, sales, and months of inventory, along with insight into whether it’s a buyer’s market or a seller’s market. Better yet, you’re getting a breakdown by property type and all the recent sales in our community. WHY IS ALL THIS INFORMATION SO IMPORTANT? Everyone has a need for housing, and just about everyone has financial goals. When it comes to real estate, everyone will make a move at some point, whether it’s imminent or sometime in the future. These plans could be to buy a first home, move into a larger house as the family grows, downsize into a place that’s more suitable as one ages, acquire an investment property to enhance retirement plans, or simply refinance to utilize equity in your home for some other purpose. Knowing the state of the market, having a sense for what your home may be worth, and how much equity you may have are all important considerations to any next steps you may take. Whatever your plans may be, and whatever your timeline may be, you simply can’t plan without good information. The detailed information provided in my newsletter is to help you plan better for your family’s future and the financial decisions you may need to make along the way. YOUR TRUSTED RESOURCE In addition to having an abundance of information at your fingertips each month, you also have us. Call, email, or text us any time. We would be more than happy to chat about your plans and goals, the real estate market, answer any questions you may have, and of course, prepare a detailed analysis of what your home may be worth – even if you have no plans to sell anytime soon. Whenever the time comes, hopefully my professionalism, real estate knowledge, and sales expertise will be valuable to you, and you’ll consider us to guide you through a successful sale and/or purchase! GET IN TOUCH For more insight on how to best prepare for buying and/or selling real estate, or if you have any questions about the market, please reach out anytime. To ensure you’re getting the latest market information for your neighbourhood and the best advice on how to navigate the current market, we are always happy to help. NOT RECEIVING OUR NEWSLETTER? Send us an email so we can add your name and address to our monthly mailout. We look forward to connecting DK and Amanda
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